New Jordan, France MoU specifies funding ceiling of up to 912m euros

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(File photo: Jordan News)
AMMAN — Jordan and France have signed a memorandum of understanding (MoU) for development cooperation with a funding ceiling of up to 912 million euros for the 2023–2026 period. اضافة اعلان

The agreement was signed by Minister of Planning and International Cooperation Zeina Toukan and Deputy CEO of the French Development Agency (AFD) Marie-Helene Loison, in the presence of French Minister of State for Development, Francophonie, and International Partnerships Chrysoula Zacharopoulou.

Sectoral funding and grantsThe MoU includes funding of up to 650 million euros in concessional loans for sectoral support through the public budget, and provides financing for priority infrastructure projects. It also allocates some 200 million euros in funding for the private sector through AFD-affiliated Proparco, which specializes in private-sector financing.

Additionally, grants of up to 62 million euros will support the Jordan Response Plan to the Syrian crisis and provide technical support to build the technical and institutional capacity of the ministries and institutions involved in the implementation of projects to be contracted within the framework of the memorandum.

Focus on water projectsDuring a technical meeting with senior officials at AFD, talks covered priority projects related to water and climate change, such as projects to reduce water loss, the National Water Carrier project, the water sector's sanitation projects, and research into steps to implement the memo.

Toukan briefed the French side on the government's top reforms in the water sector and developments in preparation for the national water carrier project. France has pledged to provide development and investment loans worth 200 million euros to contribute to financing the project, in addition to a technical grant of 5 million euros.

Toukan called on the French side to provide more grants and concessional funding for this strategic project.

Support for SMEs and educationThe company representatives noted their continued support for small- and medium-sized enterprises by providing credit lines through commercial banks, with a particular focus on women and youth.

They also expressed interest in supporting the National Water Carrier Project and school building projects in the form of public-private partnerships.

Reforms implemented by JordanDuring consultations on development cooperation, Toukan briefed stakeholders on the most important sectoral priorities of the Economic Modernization Vision 2023–2025 Executive Program in terms of projects for the coming period. She also acquainted them with the reforms implemented by Jordan, as well as the country's efforts to support the business and investment environment under the new investment and public-private partnership laws.

French representatives commended the efforts of the Jordanian government to overcome its economic and financial challenges.

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